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Jan 22, 2013
01/13
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we have a tax code now that is so much more complex. we heard all this talk about simplification last year. we've gone in exactly the opposite direction, putting in all of these deals for special interests and now you're not even sure whether, what your exact rate is depending when you book business. how are you sorting all that out? >> well, it's a challenge. i think about our franchises. most of them are sole proprietors. so their taxes are being passed through the entity that they own. for every dollar that they're paying in additional tax, that is one less dollar they can put back into growing their businesses and creating jobs. we're kind of starving the goose that feeds the golden egg of producing more jobs. david: well, at least you are growing partly as a result of all the complication. people want to go into a franchise. dina owens, from the dwyer group. >> thanks, david. david: appreciate it. lauren: the bank of japan taking a page out of our playbook and announcing it will buy government bonds. up next find out why this could
we have a tax code now that is so much more complex. we heard all this talk about simplification last year. we've gone in exactly the opposite direction, putting in all of these deals for special interests and now you're not even sure whether, what your exact rate is depending when you book business. how are you sorting all that out? >> well, it's a challenge. i think about our franchises. most of them are sole proprietors. so their taxes are being passed through the entity that they own....
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Jan 22, 2013
01/13
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frustrated about higher taxes? so is golf pro phil michelson who suggested, quote, drastic changes ahead for him because of tax pain. we're going to discuss whether rich people are really moving to avoid the tax man's blow. next. >> we have certainly stories on that. >> litter, a super conservative governor raises taxes to fund her state's responsibility for the new health care law. stick around. could happen in for states as well. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. >>> you've probably heard by now golf phil michelson has apologized for those remarks that he said over the weekend when he said big changes would be coming in his own life due to his rising tax rate in california but didn't go so far as to say those changes were not coming with that apology. brian schactman has that story. >> well, you know, phil sa
frustrated about higher taxes? so is golf pro phil michelson who suggested, quote, drastic changes ahead for him because of tax pain. we're going to discuss whether rich people are really moving to avoid the tax man's blow. next. >> we have certainly stories on that. >> litter, a super conservative governor raises taxes to fund her state's responsibility for the new health care law. stick around. could happen in for states as well. at a dry cleaner, we replaced people with a...
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Jan 23, 2013
01/13
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i would love to see territorial tax system, tax reform and get us through the fiscal problem we have right now. liz: what about a tax holiday overseas? >> if they do that, that is even better, but i will not hold my breath for that one. liz: paul jacobs, thank you very much. chairman and ceo of qualcomm. back to you in new york. cheryl: there is still more to come tomorrow from davos. liz will interview coca-cola ceo and kenneth frazier, chairman and ceo of merck. two prominent leaders we cannot afford to miss it. when i have 60 minutes to go. we're counting down the minutes until oh, you know what, apple earnings. big. will the numbers get th the docr decided again? shibani joshi will break it down for you coming up next read axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of pub
i would love to see territorial tax system, tax reform and get us through the fiscal problem we have right now. liz: what about a tax holiday overseas? >> if they do that, that is even better, but i will not hold my breath for that one. liz: paul jacobs, thank you very much. chairman and ceo of qualcomm. back to you in new york. cheryl: there is still more to come tomorrow from davos. liz will interview coca-cola ceo and kenneth frazier, chairman and ceo of merck. two prominent leaders we...
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Jan 22, 2013
01/13
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you know, i know, when you start raising taxes, the obamacare taxes evaporate kicked in yet. the economy is marge neal improving. who knows. >> neil: charlie gasparino, they talk about him everywhere. what's he like -- you want to know why the president didn't mention the debt once yesterday. because he figured he didn't have to. hey, our salads. [ bop ] [ bop ] [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of vegetables, a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8. . i get this... [ voice of dennis ] ...safe driving bonus check? every six months without an accident, allstate sends a check. ok. [ voice of dennis ] silence. are you in good hands? ♪ >> neil: all right. i'm going to pick somebodyism i'll probably tick everybody off but the blame game has got to stop. got, got, got to stop. president who wants to get republican angry and uses inaugural address to do it and republicans who feign shock, though finger pointing encourages it. just stop. allow me to
you know, i know, when you start raising taxes, the obamacare taxes evaporate kicked in yet. the economy is marge neal improving. who knows. >> neil: charlie gasparino, they talk about him everywhere. what's he like -- you want to know why the president didn't mention the debt once yesterday. because he figured he didn't have to. hey, our salads. [ bop ] [ bop ] [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of...
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Jan 22, 2013
01/13
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this trading tax, this idea, do you think it's a good idea, a bad idea? what would happen to you if they did it here in the united states? possible it could happen in the united states? >> i think it's a dumb idea, and history would prove that that's true basically. if you put tax in one country and not another, the trading will all move away and we've seen experiences of that around the world. i think it's a bad idea. i'm not sure what it's trying to do other than penalize an industry. and i think in the united states, i think we've kind of moved past that on to other topics. it's not coming up on the radar screen right now. >> i don't see that happening, do you? >> no. >> here, i mean. >> i think it's going to happen in europe. >> the thought of penalizing the banking system and wanting to tax everything in sight. >> people have to trade, trade what? >> people have to invest. that's what they do with their money. if there's a financial transaction tax, would they not invest? >> they will trade differently. the trade flows and investments will move to di
this trading tax, this idea, do you think it's a good idea, a bad idea? what would happen to you if they did it here in the united states? possible it could happen in the united states? >> i think it's a dumb idea, and history would prove that that's true basically. if you put tax in one country and not another, the trading will all move away and we've seen experiences of that around the world. i think it's a bad idea. i'm not sure what it's trying to do other than penalize an industry....
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Jan 23, 2013
01/13
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oppenheimer says the upside largely driven by taxes and interest income. concern about nexus margins. >> okay. as we is can say, gain over 9%. coach is moving in the opposite direction and then some. disappointment here. >> tell me what you think is wrong, this is your kind of store. what's happening? >> you know, i was reading commentary and i think they were disappointed by the performance in mother america and european market. other than that, national sales are going quite well. i think the problem here is handbags. the handbag store, maybe around 300, $400 point range, but to try and retain that brand, they refuse to cut prices. and they've got a lot of competition. places like michael kors for places which are discounting, and they are not discounting because they do not want to hurt their brand. >> nobody goes there any more. too crowded. >> too crowded? >> yeah. that seems like what is happening it apple as well. by the way be analyst on squawk balk said buy coach. it is a buying opportunity. >> there you good. >> okay, let's talk about cree. >> ok
oppenheimer says the upside largely driven by taxes and interest income. concern about nexus margins. >> okay. as we is can say, gain over 9%. coach is moving in the opposite direction and then some. disappointment here. >> tell me what you think is wrong, this is your kind of store. what's happening? >> you know, i was reading commentary and i think they were disappointed by the performance in mother america and european market. other than that, national sales are going quite...
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Jan 22, 2013
01/13
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some basic tax planning thing. he's probably paying, let's get the number here, more on the order of around 50% to 52%, that's being very conservative. the top paid americans when you look at the irs code, the highest paid 400 earners and millionaires are paying around 20%, that's the average for most millionaire earners. between 20% and 50%, not 62% or 63%. >> what we can tell of his income, his income mostly derives from tournament wings or endorsement income. it's not investment income, which is how the wealthy people typically lower their rated. >> he's correct, he's the guy getting hit. you're talking about people who earn a lot of money in ordinary income, they are the ones getting hit. he's like a lot of rich guys, especially in california now who are saying maybe this is -- >> move to florida, right? >> he probably has a point but he still will be taking home $25 million. someone with such a great image in golf t doesn't send the right message. >> many are accusing him of being a whiner about this. >> also
some basic tax planning thing. he's probably paying, let's get the number here, more on the order of around 50% to 52%, that's being very conservative. the top paid americans when you look at the irs code, the highest paid 400 earners and millionaires are paying around 20%, that's the average for most millionaire earners. between 20% and 50%, not 62% or 63%. >> what we can tell of his income, his income mostly derives from tournament wings or endorsement income. it's not investment...
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Jan 22, 2013
01/13
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. >> only to taxes. >> it's relevant from a standpoint of, what's your profit target? when do you think you should be out of this thing? tomorrow really shouldn't be a factor. at the end of the day, if you reached your profit target and you want to get out, great. >> i want to get the bottom line here. you are saying longer term you are concerned about apple's prospect but if you are a long-term investor, you should what? own apple or not? >> the bottom line is this, melissa. it's a great stock to own long-term. it's not a great stock to get into to start a new position in right now because all of the noise and all 0 the headlines that drives what happened in this thing. >> is it priced fairly? is there an attractive value proposition? these are the things you should be thinking about. >> absolutely. absolutely it's priced fairly i mean it's not priced fairly. if you look at amazon, we give amazon the benefit of the doubt with a 3,000 p.e. and i'm fine with that. i think they're going to execute its long-term plan really well and we don't give apple even close to the s
. >> only to taxes. >> it's relevant from a standpoint of, what's your profit target? when do you think you should be out of this thing? tomorrow really shouldn't be a factor. at the end of the day, if you reached your profit target and you want to get out, great. >> i want to get the bottom line here. you are saying longer term you are concerned about apple's prospect but if you are a long-term investor, you should what? own apple or not? >> the bottom line is this,...
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Jan 22, 2013
01/13
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additional taxes, all kinds of reasons. those people will not buy real estate. that is what happened january 1. let's talk about overall, they talked to me about builder confidence. still have not broken the 50 level. a couple of regions have hit it, the northeast has not, for example. so where is the disconnect? >> you have a demand for multiple family housing. town home garden apartments, that kind of thing demand is there. out somewhere not so commutable, it is not there. cheryl: because you're a real estate agent to the stars coming of high-end luxury clients with multimillion dollar property, is that market strong, will it stay strong, do you think? >> the market is strong due to the overall lack of supply and we have all kinds of people buying in new york. foreigners, investors, users, so much, so many buyers from so many pools, it works. cheryl: thank you very much. if i had an extra $20 million, i would call you. the closing bell is going to ring, exactly 30 minutes to go right now could dell has been the subject of intense chatter of buyouts. the shareh
additional taxes, all kinds of reasons. those people will not buy real estate. that is what happened january 1. let's talk about overall, they talked to me about builder confidence. still have not broken the 50 level. a couple of regions have hit it, the northeast has not, for example. so where is the disconnect? >> you have a demand for multiple family housing. town home garden apartments, that kind of thing demand is there. out somewhere not so commutable, it is not there. cheryl:...
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Jan 23, 2013
01/13
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tell us. >> well, the carbon tax has been proposed by some, a tax on carbon dioxide, a tax on hot air, proposed by some to be a way to close the budget deficit, and, second, to solve the problem of global warming, but it won't do either, and it's a tax on refineries, industry, and utilities and will slow the u.s. economy rate, the price of gasoline, goods, food, electricity, and so it will probably reduce federal revenues, not helping with the budget deficit. >> that's interesting because it's billed as we're doing something, showing the world we're tackling this carbon emissions problem. we are doing something. it's also billed as a big revenue raiser for the government. i think that's the motivation. now, in the long run, you could say it reduces government revenues because it's slowing the economy, but initially, it would be a gusher of money, now, wouldn't it? >> well, that's very attractive. more than a hundred billion dollars a year, but the republicans in the house have already passed a resolution before a bill was grue deuce -- introduced saying it's a bad idea. >> are you wri
tell us. >> well, the carbon tax has been proposed by some, a tax on carbon dioxide, a tax on hot air, proposed by some to be a way to close the budget deficit, and, second, to solve the problem of global warming, but it won't do either, and it's a tax on refineries, industry, and utilities and will slow the u.s. economy rate, the price of gasoline, goods, food, electricity, and so it will probably reduce federal revenues, not helping with the budget deficit. >> that's interesting...
SFGTV2: San Francisco Government Television
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Jan 22, 2013
01/13
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we are taxing work the barely taxing wealth region but barely tax and wealth. that is the wrong priority. -- we're taxing work but barely taxing wealth. the robin hood taxes an idea whose time has come. radicals light nicholke nicolasy and angela merkel have a tax on currency transactions that would bring in $350 billion a year. some of my heroes are the nurses of this country. national nurses united heal america. tax-loss >>> there are a slew -- tax on wall street. there are a slew of good things that 1%ers are for. >> he is not really offering of a lot. >> he is talking about being taxed less than his assistant. there is a group of patriotic millionaires. it is the belief that you owe backe to a country that has helped to make you what you are. steve jobs -- we had a tough column in the last issue. it was tough not about apple labor practices in china. here you had a man of great wealth was talking about cutting taxes and never really gave of his philanthropic wealth. poor bill gates, he gets nailed for being so square. you can disagree with some things. but
we are taxing work the barely taxing wealth region but barely tax and wealth. that is the wrong priority. -- we're taxing work but barely taxing wealth. the robin hood taxes an idea whose time has come. radicals light nicholke nicolasy and angela merkel have a tax on currency transactions that would bring in $350 billion a year. some of my heroes are the nurses of this country. national nurses united heal america. tax-loss >>> there are a slew -- tax on wall street. there are a slew of...
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Jan 22, 2013
01/13
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phil mickelson now apologizing, backing off the controversial comments on high income taxes in the state of california. but does the golf titan have his math right? we'll look at mr. mickelson. >> thanks so much. >>> not so fast, josh, the traders are quick. but not always right. listen to what josh brown said about netflix back in october. >> i'm a hater. look, all of the people that are being very bullish about the stock in the past week, hedge fund managers, they're buried this this thing. why would you own shares of a company with an unproven business model, big expenditures overseas? >> well, shares are up 56% since then. are you still drinking the hatorade? >> i have been wrong, but everything i have said as reasons not to like it is still around. the company reports tomorrow. this is not a report that i'd want to be involved in the stock ahead of. quite frankly, they have got to add 5 million net new subs. they have a history of being hot and cold on the reports. guidance is out of control as far as what people are looking for, as far as the downside and upside. for me i'm not int
phil mickelson now apologizing, backing off the controversial comments on high income taxes in the state of california. but does the golf titan have his math right? we'll look at mr. mickelson. >> thanks so much. >>> not so fast, josh, the traders are quick. but not always right. listen to what josh brown said about netflix back in october. >> i'm a hater. look, all of the people that are being very bullish about the stock in the past week, hedge fund managers, they're...
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Jan 21, 2013
01/13
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plus, we had $520 billion of new taxes from obamacare. this would be the third tax increase. melissa: i really hope you're right because i feel their is a tide of higher taxes. its role in norway. it will keep all of us out to see no matter what our income bracket because it seems like before this last deal there was this notion that if republicans just gave in and went ahead with some higher taxes that then we could get down to the business of spending cuts. that was the idea that was out there. take your medicine now and then we will get down to the business of cutting spending once we have this out of the way. instead, it has been quite the opposite. this was just the first up. the camel's nose in a tent. now there are many more higher taxes coming. are you sure that there are enough democrats out there that would stand in a way of this? because i don't know. >> well, we will see. you may be right that some of these democrats make all unite behind the schumer obama budget which calls for somewhere in the neighborhood of another trillion dollar tax increase. the point i was
plus, we had $520 billion of new taxes from obamacare. this would be the third tax increase. melissa: i really hope you're right because i feel their is a tide of higher taxes. its role in norway. it will keep all of us out to see no matter what our income bracket because it seems like before this last deal there was this notion that if republicans just gave in and went ahead with some higher taxes that then we could get down to the business of spending cuts. that was the idea that was out...
SFGTV2: San Francisco Government Television
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Jan 22, 2013
01/13
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>> i could go on about immigration and corporate tax policy reform, but i am a researcher, so i will not. >> and we have seven minutes. >> mayor lee said it perfectly. the fundamental thing that companies are looking for is to be engaged in the process. we use a term in computing called agile. we look for more ability and the possibility to work with us, iterate in the process, rather than what we often see as we call the waterfall, take-it-or- leave-it. flexibility and agility is what is most important. >> mayor lee? >> i have always thought of our city as being the gateway to the rest of the world. i have often talked, with companies, i want to be with you when you turn the corner. we want to be the city that treats international markets for your products. i do not know if you know this but we have 70 counsel general offices in san francisco, the highest number outside of washington, d.c. we want to make sure that our companies know we are not just in it for san francisco, the region. we have to tap international markets. they love hearing that. some of the companies already know t
>> i could go on about immigration and corporate tax policy reform, but i am a researcher, so i will not. >> and we have seven minutes. >> mayor lee said it perfectly. the fundamental thing that companies are looking for is to be engaged in the process. we use a term in computing called agile. we look for more ability and the possibility to work with us, iterate in the process, rather than what we often see as we call the waterfall, take-it-or- leave-it. flexibility and...
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Jan 23, 2013
01/13
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other income, 350 million and a tax rate of 26%. >> okay. gene in. >> it's actually kivon -- the numbers are disappointing on the iphone, slightly disappointing, but if you step back the expectations were for 41 billion in the mid-point of the revenue guide and did 42 so that was better. essentially this is what people had really expected absent the small disappointment on the iphone number, but it seems pretty -- actually pretty uneventful. it's directionally more negative than what we expected. >> you got 22.9 million ipads. what did you think? >> i think that's actually a really good number. it's better than what i expected. but the thing that catches me, apple may be worse than what we expected because they just eked out the number. >> even though the eps beat was really, really big. >> dan, how do you feel about watching the stock that you own a lot of down another 23 bucks and below 500 bucks? >> i mean, it's frustrating. this number, obviously, hoping for a blowout number after those verizon iphone numbers came in in terms of the new
other income, 350 million and a tax rate of 26%. >> okay. gene in. >> it's actually kivon -- the numbers are disappointing on the iphone, slightly disappointing, but if you step back the expectations were for 41 billion in the mid-point of the revenue guide and did 42 so that was better. essentially this is what people had really expected absent the small disappointment on the iphone number, but it seems pretty -- actually pretty uneventful. it's directionally more negative than...
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Jan 21, 2013
01/13
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peter: the president also did however discuss revamping the tax code, reducing healthcare spending, trying to reduce deficits, but acknowledging the realities of divided government, said, quote, today's victories will only be partial. cheryl? cheryl: peter barnes of course standing by at the white house, big day in d.c., cold day as well. peter thank you. well, while most of the markets are closed today, money is still moving. now is your chance to make money on currencies. joining me now for a fox business exclusive interview is forex.com senior currency strategist. welcome. currency markets are moving today. currency is a bit of great interest with regards to the european currencies and there's japan. big meeting today, bank of japan, more concern about deflation in that country, what is your reading right now on the country of japan and the yen in particular? >> they have been taking some pretty extraordinary measures over the past to months or so -- past two months or so. been very very aggressive in terms of easing the japanese yen. he believes that's going to be the major thing to tu
peter: the president also did however discuss revamping the tax code, reducing healthcare spending, trying to reduce deficits, but acknowledging the realities of divided government, said, quote, today's victories will only be partial. cheryl? cheryl: peter barnes of course standing by at the white house, big day in d.c., cold day as well. peter thank you. well, while most of the markets are closed today, money is still moving. now is your chance to make money on currencies. joining me now for a...
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Jan 22, 2013
01/13
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we just had a big capital gains tax, a big dividend tax. you have obamacare that is coming down the pipe which it employers with more than 50 workers in a lot of employers are already holding back on their employment because of that. then we talk about things like coffee and trade and climate change legislation. i do not want to be entirely negative here. you mentioned the fact that the housing market is picking up. no question about that. ironically, here is the irony of this president, the number one factor that is creating jobs in the economy over the last three years has been the oil and gas sector. dagen: you would be not a smart politician if you got in the way of that in the next four years. steve, by the way, 2100 words in that address and job or jobs was noted three times. steve, it was great to speak with you. >> people should read in our "wall street journal" today, we have an excerpt from ronald reagan's inauguration. the job market was really expanding back in. dagen: steve, great to speak with you. take care. connell: we broug
we just had a big capital gains tax, a big dividend tax. you have obamacare that is coming down the pipe which it employers with more than 50 workers in a lot of employers are already holding back on their employment because of that. then we talk about things like coffee and trade and climate change legislation. i do not want to be entirely negative here. you mentioned the fact that the housing market is picking up. no question about that. ironically, here is the irony of this president, the...
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Jan 23, 2013
01/13
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he met tax increases rather than tax reform. it really was changing the way government collects taxes. it broadened the tax base dramatically and it lowered tax rates. we had almost every democrat to vote with us in 1986. i think it was 97-three in the senate. that is bipartisan. i am really hoping congress can do that going forward. dagen: it was great to talk with you. be well. connell: jamie dimon is at the world economic forum. he has been taking on his critics are what he calls bad legislation. dagen: apple. the company reports after the bell today. we will set the stage on what you can expect to hear from the tech giant. will you be disappointed? take a look at oil today. it is slightly lower. $96.50 a barrel. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for t
he met tax increases rather than tax reform. it really was changing the way government collects taxes. it broadened the tax base dramatically and it lowered tax rates. we had almost every democrat to vote with us in 1986. i think it was 97-three in the senate. that is bipartisan. i am really hoping congress can do that going forward. dagen: it was great to talk with you. be well. connell: jamie dimon is at the world economic forum. he has been taking on his critics are what he calls bad...
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Jan 23, 2013
01/13
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pay another business tax here. there is no end. so we decided to end it. >> reporter: after california voters raised taxes on the rich. california taxpayers earning more than a million dollars paid a combined top rate last year of 45.3%. today, that is 53.8. five points more for the feds, three more for the state. >> how much pain do you put up with something you think is illogical. >> reporter: peter farrell is considering moving his medical company out of california. while this tax consultant has multiple clients, studying a similar move. >> as soon as prop 30 happened i saw just a huge change in the mind set. it was almost as if, you know, well, that's the, that pushes it to the limit i guess. >> they're fed up with the situation and they feel that, like they're being unfairly treated. >> reporter: these charts show you why. the top 5% of california taxpayers, those over 250,000, pay 62% of state income taxes. the top 2%? pay 46%. while just 34,000 taxpayers out of 14 million, pay 25% of state taxes. these guys aren't dumb. they
pay another business tax here. there is no end. so we decided to end it. >> reporter: after california voters raised taxes on the rich. california taxpayers earning more than a million dollars paid a combined top rate last year of 45.3%. today, that is 53.8. five points more for the feds, three more for the state. >> how much pain do you put up with something you think is illogical. >> reporter: peter farrell is considering moving his medical company out of california. while...
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Jan 15, 2013
01/13
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we're going to raise 60 billion from the tax hikes so the president is saying we've got to raise taxes on the rich to better roads and build schools, half the money is gone to just bailing out two federal government agencies. isn't that the sad iron? >> it's worse than you think. >> thanks. >> because the post office has accounting tricks going on. they have been selling these forever stamps. a lot of people have been buying them because you can use them at any time no, matter how much it costs to mail a left so the post office is collecting all this money from mail it hasn't even delivered yet. eventually when -- when they are allowed to raise the price of a stamp, people are going to use the forever stamps and the post office will have to deliver all this mail, but they won't get paid anything because they already spent the money. >> it's a very sad state of affairs. jim, peter, always good to have you on the show. the one thing you might want to start stockpiling. that's coming up. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook
we're going to raise 60 billion from the tax hikes so the president is saying we've got to raise taxes on the rich to better roads and build schools, half the money is gone to just bailing out two federal government agencies. isn't that the sad iron? >> it's worse than you think. >> thanks. >> because the post office has accounting tricks going on. they have been selling these forever stamps. a lot of people have been buying them because you can use them at any time no, matter...
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Jan 22, 2013
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nebraska governor has talked about eliminating the personal income tax and corporate income tax. do you think that those kinds of states will starts stealing valuable income? >> we have the highest tax rate in the nation and the state of california. we just cannot sustain this level in order to keep people here in our state. melissa: he sort of backpedaled and apologized. >> i feel the frustration. i am a mom of four kids. i feel badly that he is apologizing, but i do feel his frustration. i certainly do understand his frustration. melissa: senator, thank you for coming on the show. we appreciate your time. >> thank you. lori: a surprise drop in existing home sales last month. does it derailed the overall good of the housing market has done for our country? we will investigate that is our. melissa: plus a interview coming up. ♪ 27 the governor of nebraska has sent a letter approving the keystone pipeline to travel through his stay. construction and operation with the mitigation and commitment from keystone would have animal environmental impact in the state of nebraska. is it j
nebraska governor has talked about eliminating the personal income tax and corporate income tax. do you think that those kinds of states will starts stealing valuable income? >> we have the highest tax rate in the nation and the state of california. we just cannot sustain this level in order to keep people here in our state. melissa: he sort of backpedaled and apologized. >> i feel the frustration. i am a mom of four kids. i feel badly that he is apologizing, but i do feel his...
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Jan 16, 2013
01/13
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. >> uncle sa many is taking more in tax dollars, next the alarming number of americans that are dipping into their retirement accounts to pay their bills and our interview with ann frank's stepsister, you will not want to miss it. >> we will see you then. >> and we have a high pressure system moving in. that is good news, right? >> i love that, sun issy kais from the high pressure system, wednesday, thursday and friday with mid 60s expected even by saturday, so, a warmup, that is what we are calling it the next couple of days. >> thanks for watching, we will see you at 6:00. >>> on the broadcast tonight, he did it. lance armstrong comes clean after years of denials. now the consequences for him, for the cancer charity he founded, even the future of his sport at the olympics. >>> late word on the action the president plans to take on gun control tomorrow. >>> fighting the flu. what are the real odds of getting sick after getting the flu shot, which in some places is getting a lot harder to find. >>> and cashing out. an alarming number of americans draining the money they were saving for
. >> uncle sa many is taking more in tax dollars, next the alarming number of americans that are dipping into their retirement accounts to pay their bills and our interview with ann frank's stepsister, you will not want to miss it. >> we will see you then. >> and we have a high pressure system moving in. that is good news, right? >> i love that, sun issy kais from the high pressure system, wednesday, thursday and friday with mid 60s expected even by saturday, so, a...
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Jan 20, 2013
01/13
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WJLA
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how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit on the soft side do to stocks? >> absolutely. that is the question of the day, isn't it, jared. the ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month if we haven't hit it yet. let's take a listen to what president obama had to say out the potentialal battle looming congress. >> markets could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business own whole wants to grow and hire. >> jared, how does this play out? >> well, we're beginning to hear lots of sounds from republicans at we're in a compromising mode than we heard, say, a week ago. right now they're talking about perhaps an increase in the debt ceiling that lasts for a couple of m months, that is offering tt to the president. frankly, and russ say agree with me here, i don't think markets would react to -- very approvingly to basically just another lurch from crisis to crisis. it
how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit on the soft side do to stocks? >> absolutely. that is the question of the day, isn't it, jared. the ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month if we haven't hit it yet. let's take a listen to what president obama had to say out the potentialal battle looming congress. >> markets could go haywire, interest rates would spike for...
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Jan 22, 2013
01/13
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KICU
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"no one likes being taxes. but you don't have a choice." now, if you make 50,000 a year..you'll pay roughly a thousand dollars more in payroll taxes for the year. every two weeks your take-home pay--roughly 36-dollars less. retailers expect it to affect consumer spending. "the likelihood is that it will. we've seen them cutback during the holidays and we expect this 'austerity' to be here for awhile until they get their 'sea-legs' under this program" but getting those sea-legs may take months. "i'm not happy about it. so has it affected your spending? yes, i'm getting cheaper lunches than i would normally." but is it enough to stall the economic recovery? "trend right now is they've pulled back. but it's boring so we'll eventually be back to $5 starbucks and spending a little extra for a device we look for. "we've are going to see a drag. but we have other sectors that will pick up the slack, such as housing. so will it stall us out? no. would having that money have helped? probably." susan schmidt says another sector doing well three weeks
"no one likes being taxes. but you don't have a choice." now, if you make 50,000 a year..you'll pay roughly a thousand dollars more in payroll taxes for the year. every two weeks your take-home pay--roughly 36-dollars less. retailers expect it to affect consumer spending. "the likelihood is that it will. we've seen them cutback during the holidays and we expect this 'austerity' to be here for awhile until they get their 'sea-legs' under this program" but getting those...
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Jan 23, 2013
01/13
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KTVU
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the state celt a record on the 16th when the franchise tax board received $2.2 billion in taxes. experts say the excess cash maying the combination of state and federal tax changes. >>> officials at california state university says governor brown's budget falls $2 a million short of what -- $250 million short of what they need. he said the figure is not realistic, pointing in particular to $86 million for a 3% raise for employees. he said it will be hard to get the legislature to approve that since other state employees have not had raises. >>> a controversial consultant will come in to open the oakland police department combat a recent rise in crime. as ktvu eight alex savidge shows us, the plan was approved during a heated argument that stretched into the early- morning hours. >> shame on you! >> reporter: an angry reaction from the audience inside oakland's city hall as the council vote came down just after 2:00 this morning. members gave the go-ahead to hire bill bratton as a police consultant following four hours of emotional public comment. >> be quiet. >> reporter: one spe
the state celt a record on the 16th when the franchise tax board received $2.2 billion in taxes. experts say the excess cash maying the combination of state and federal tax changes. >>> officials at california state university says governor brown's budget falls $2 a million short of what -- $250 million short of what they need. he said the figure is not realistic, pointing in particular to $86 million for a 3% raise for employees. he said it will be hard to get the legislature to...
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Jan 23, 2013
01/13
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KTVU
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. >>> progolfer mickelson is threatening to move out of california because of tax changes. some interpreted his remarks meaning that he's going to move out of the state. mickelson later said that he is not making plans about moving out of california and he apologized. >>> the entire dream liner fleet was grounded worldwide last week after problems with its lithium ion batteries caused an emergency landing in japan. meantime al-nippon is canceling their lines through january 28th. >>> toyota's prius is now number one in california. the prius has ended the honda civic reign as the most sold vehicle in california. according to new car dealers association almost 61,000 prius hybrids were sold last year. toyota and honda dominated car sales last year. after the prius and civic toyota's camera came in third followed by the honda accord, toyota co corolla and honda crv. >>> ktvu's tom vacar gives us a close up look at work on the bay bridge and why crews are under the gun to end early. >> the first order of business is we needed to start dismantling the damaged portions of the sys
. >>> progolfer mickelson is threatening to move out of california because of tax changes. some interpreted his remarks meaning that he's going to move out of the state. mickelson later said that he is not making plans about moving out of california and he apologized. >>> the entire dream liner fleet was grounded worldwide last week after problems with its lithium ion batteries caused an emergency landing in japan. meantime al-nippon is canceling their lines through january...
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Jan 23, 2013
01/13
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here is a case where higher tax rates will give you lower tax revenues. we have that weird income of the wealthy was shifted in december. we don't know what is going to happen in the first quarter. and i read today former president of france is leavinin france because he doesn't want to pay a 75% tax rate. >> anyway, great stuff cnbc robert frank. thank you. >> life, liberty and the pursuit of happiness. i love that. freedom and free markets, i'm larry kudlow, i'll see you tomorrow night. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. you know it can be hard to lbreathe, and how that feels.e, what's the rush? copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups.
here is a case where higher tax rates will give you lower tax revenues. we have that weird income of the wealthy was shifted in december. we don't know what is going to happen in the first quarter. and i read today former president of france is leavinin france because he doesn't want to pay a 75% tax rate. >> anyway, great stuff cnbc robert frank. thank you. >> life, liberty and the pursuit of happiness. i love that. freedom and free markets, i'm larry kudlow, i'll see you tomorrow...
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Jan 23, 2013
01/13
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CNBC
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. >> who's going to pay the dividends and interest and taxes to sustain an aging population if young kids are not trained in productive jobs? >> a huge issue. joe kernen's got a question. >> hi, joe. >> bob, what's going on? good to see you. we've got -- wow, you're getting kind of uppity. we've got to go all the way to switzerland to get you to come on the show now. >> it's always a pleasure to come on your show. >> a good friend, jack welch, i listen to what he says as basically gospel. but not everyone does. he tweeted recently about the inaugural speech and said no mention of economic growth or things to spur economic growth. no mention really of jobs and the unemployment rate. as the under secretary of the treasury for growth, when do you actually kick in to action? you can probably coast because we probably won't see any for a while with the latest policy. but do you get called into action when there is the prospect for some growth, or when do you actually start working on that? >> well, i think there's going to be growth. i think, in fact, growth's beginning to pick up in the
. >> who's going to pay the dividends and interest and taxes to sustain an aging population if young kids are not trained in productive jobs? >> a huge issue. joe kernen's got a question. >> hi, joe. >> bob, what's going on? good to see you. we've got -- wow, you're getting kind of uppity. we've got to go all the way to switzerland to get you to come on the show now. >> it's always a pleasure to come on your show. >> a good friend, jack welch, i listen to...
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Jan 23, 2013
01/13
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with any financial transactions to tax. but he did it in a way that really isn't threatening, at least not yet. so another piece of news that's key, spain's central bank says the country's recession got even worse in the fourth quarter contracting 1.7%. this is spain's second recession. it's economy contracted from 2008 to 2009. a terrible recession. we covered it a little bit for a couple years, now suffering through the double dip. you can see the ibex moved barely today. the country of portugal borrowed money today. it's the first time it's been able to do so since it's financial rescue in 2011. report indicate investors were willing to lend them 10 billion euros. they were able to lower the interest rate. they may less than 5% for the$. their five-year paper. here is the ten-year yield. the ceo of i kia giving an interview, saying what some years ago took two to three years now takes four to six years. we also see there's a lot of hidden obstacles in different markets and also within the european union that's holding us
with any financial transactions to tax. but he did it in a way that really isn't threatening, at least not yet. so another piece of news that's key, spain's central bank says the country's recession got even worse in the fourth quarter contracting 1.7%. this is spain's second recession. it's economy contracted from 2008 to 2009. a terrible recession. we covered it a little bit for a couple years, now suffering through the double dip. you can see the ibex moved barely today. the country of...
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Jan 19, 2013
01/13
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KGO
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three biggies are turbo tax and tax act. depends on needs. so i don't want to leave you hanging. if you go to our web site go to 7 on your side. they looked into all of this. there are differences. let me tell were you they get you this, is what you need to know. you think is a cost. i'm cool. keep reading. make sure it sedz state form that. is how they get you. like oh, $10. some companies will charge you another $40 or 50. >> this is a nuisance, save nefrg one spot all year. >> you can figure it out later that. is best advice, ever. >> this saves you trouble. >> sure. sure. >> take a look at this picture in pacifica. it's 49er friday. >> that is something. check out these two little guys. mom calls them cutest niners fans. >> look how huge that football looks next to them. you can e mail your fan photos and we'll post them and show a lot of them right here on the air. >> those gr pictures tonight. >> still to come at 6:00 taking fight against cyber bullying off line. >> what san francisco is doing to fight this problem, up next. >> coming up at 5:00 vigilante justice. the showd
three biggies are turbo tax and tax act. depends on needs. so i don't want to leave you hanging. if you go to our web site go to 7 on your side. they looked into all of this. there are differences. let me tell were you they get you this, is what you need to know. you think is a cost. i'm cool. keep reading. make sure it sedz state form that. is how they get you. like oh, $10. some companies will charge you another $40 or 50. >> this is a nuisance, save nefrg one spot all year. >>...
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Jan 15, 2013
01/13
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CNBC
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the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary ch
the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do...
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Jan 20, 2013
01/13
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FBC
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doctor, give me the news, and a private efcacy group in support of the health care laws is now hosting a tax section with journalists on the best way to cover the president's health care law, offering what they're calling specialized education in health care reporting. charlie gasperino. >> i can't wait to sign up, dude. (laughter) >> isn't that weird and that anyone would sign up for, i'm sorry we got it wrong. >> any, any journalists that signs up for this should be thrown out of the industry immediately and taking-- i'm trying to take it seriously. it's so stupid it's unbelievable. i'm going to pass this to adam. >> adam, what-- (laughter) >> i'm going to try to explain. part of this they think there's bad report ong this because the reporters don't know what's in the law and they want toive them the straight skinny right from the folks who wrote it. what do you make of that? >> normally, on journalistic issues charlie and i are in lockstep. i disagree with you, if you're a reporter covering the intricacies of this extremely complicated legislation and regulation, you have nothing to lose
doctor, give me the news, and a private efcacy group in support of the health care laws is now hosting a tax section with journalists on the best way to cover the president's health care law, offering what they're calling specialized education in health care reporting. charlie gasperino. >> i can't wait to sign up, dude. (laughter) >> isn't that weird and that anyone would sign up for, i'm sorry we got it wrong. >> any, any journalists that signs up for this should be thrown...
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Jan 23, 2013
01/13
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KICU
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. >>> progolfer mickelson is threatening to move out of california because of tax changes. some interpreted his remarks meaning that he's going to move out of the state. mickelson later said that he is not making plans about moving out of california and he apologized. >>> the entire dream liner fleet was grounded worldwide last week after problems with its lithium ion batteries caused an emergency landing in japan. meantime al-nippon is canceling their lines through january 28th. >>> toyota's prius is now number one in california. the prius has ended the honda civic reign as the most sold vehicle in california. according to new car dealers association almost 61,000 prius hybrids were sold last year. toyota and honda dominated car sales last year. after the prius and civic toyota's camera came in third followed by the honda accord, toyota co corolla and honda crv. >>> ktvu's tom vacar gives us a close up look at work on the bay bridge and why crews are under the gun to end early. >> the first order of business is we needed to start dismantling the damaged portions of the sys
. >>> progolfer mickelson is threatening to move out of california because of tax changes. some interpreted his remarks meaning that he's going to move out of the state. mickelson later said that he is not making plans about moving out of california and he apologized. >>> the entire dream liner fleet was grounded worldwide last week after problems with its lithium ion batteries caused an emergency landing in japan. meantime al-nippon is canceling their lines through january...
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Jan 23, 2013
01/13
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KGO
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. >> phil mickelson is talking taxes instead of the fairways and why he's now apologizing for that. >> marine corps taking a different stance hours after saying beyonce lip synced yesterday. >> and new, at 4:30. >> in san ramone, how this piece of equipment is keeping this piece of low tech materials safe for you, and your family. we'll have a live report. >> trook taking a look at traffic here at 4 n:10. it's bumper to bumper, almost a dead stop going left to right. a lot better for folks on the right hand side of the screen heading towards 101 south. stay with us, more >>> marin county is using a new emergency alert system to let people know quickly when there is a dangerous situation, using alerts for any type of emergency that could affect residents, workers or students in marin, requiring people to register online beginning this saturday. the system only alerts people who might be affected by given emergencies. >> we only ed send it out to a specific location. we can see it on the map and different data points. >> volunteers will get the word out at shopping centers and sites abo
. >> phil mickelson is talking taxes instead of the fairways and why he's now apologizing for that. >> marine corps taking a different stance hours after saying beyonce lip synced yesterday. >> and new, at 4:30. >> in san ramone, how this piece of equipment is keeping this piece of low tech materials safe for you, and your family. we'll have a live report. >> trook taking a look at traffic here at 4 n:10. it's bumper to bumper, almost a dead stop going left to...
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Jan 22, 2013
01/13
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CNBC
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. >>> phil mickelson is teed off about taxes. he is threatening to leave california thanks to a higher tax rate on the wealthy. we will talk to robert frank about this in a minute, but first, jane wells, does he have a point? >> the wonder is why he stayed so long, except san diego is a nice place. florida is nice, too. mickelson will pay california a new rate of 13.4% retroactive to the beginning of last year. running the numbers, "sports illustrated" estimates he made 60 million in 2012, that means 64 million in ju 6.4 million in california taxes, and he owes an extra 1.8 million. but if he moves, california loses everything. some of those smaller tournaments may leave the state if golfers decide to golf at rival events. tiger woods and the williams sisters long ago left california for florida, maybe not for tax purposes but they haven't moved back. lebron james went to the heat instead of the heat so the clippers could save tens of millions over his contract. and taxes were in the conversation when peyton manning was debating
. >>> phil mickelson is teed off about taxes. he is threatening to leave california thanks to a higher tax rate on the wealthy. we will talk to robert frank about this in a minute, but first, jane wells, does he have a point? >> the wonder is why he stayed so long, except san diego is a nice place. florida is nice, too. mickelson will pay california a new rate of 13.4% retroactive to the beginning of last year. running the numbers, "sports illustrated" estimates he made...
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Jan 22, 2013
01/13
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billing to the companies that actually collect the garbage or simply rolling the cost into annual profit taxes. both of those options would keep your garbage bill from increasing significantly. if the city replaces the old system to stick with in-house billing, you could see your bill go up by more than $14. >>> a real world test for google's next big thing. google's co-founder was caught on camera taking one of his company's prototypes out for a test drive. wearing the so-called google glasses on new york city subway. the glasses are said to have capabilities similar to a smartphone. as you can see in this you tube video, the user can see data on the screen on the tiny frames. google doesn't expect glasses to be available for a few years now. they are expected to cost about $1,500. >> that's tripp trippy. we would be robots. >>> a lot to talk about in business. kayla tausche is live at cnbc world headquarters with all of yours news before the bell. good morning, kayla. >> reporter: good tuesday morning to you, marla. futures are mixed as investors return from the holiday weekend. markets are
billing to the companies that actually collect the garbage or simply rolling the cost into annual profit taxes. both of those options would keep your garbage bill from increasing significantly. if the city replaces the old system to stick with in-house billing, you could see your bill go up by more than $14. >>> a real world test for google's next big thing. google's co-founder was caught on camera taking one of his company's prototypes out for a test drive. wearing the so-called...
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Jan 16, 2013
01/13
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obama demands the wealthy pay their fair share of taxes, but he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids and guns-free zones for ours. >> that's the ad. what do you think? we want to know. tweet us @earlytodaynbc. >> chuck hagel of nebraska may be getting closer to winning confirmation as defense secretary. he won the backing of two of the senate's strongest supporters of israel, senator chuck schumer are of new york and senator barbara boxer will vote to approve hagel. but senator inhofe says he and hagel have philosophical differences. >>> boeing's newest passenger jet the 787 dreamliner has been grounded by japan's leading airlines. it made an emergency landing in western japan. a cockpit message showed cockpit problems. japan airlines and all nip upon airways suspended all their dreamliner flights today. the faa says it's monitoring the incidents as part of a comprehensive review that the agency began last night. once safety checks are complete the planes could be back in the air on thursday. >>> a big winter storm is wo
obama demands the wealthy pay their fair share of taxes, but he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids and guns-free zones for ours. >> that's the ad. what do you think? we want to know. tweet us @earlytodaynbc. >> chuck hagel of nebraska may be getting closer to winning confirmation as defense secretary. he won the backing of two of the senate's strongest supporters of israel, senator chuck schumer are of new york and...
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Jan 16, 2013
01/13
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KICU
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if you thought that class warfare was bad during the election and during this tax battle, it could get even worse, because under a 2010 law, dodd-frank, public companies are supposed to disclose the relationship between what their ceo makes - that's already public information - but they are supposed to compare it and give a ratio with what their median employee, kind of the typical employee, makes. so this is something that people can compare from company to company just to see how much more - "wow, the ceo makes 300 times more than the typical worker here!" > in some companies it wouldn't be that dramatic - an investment bank, for example. but at other companies - you had mentioned earlier wal-mart - it would be a hugely divergent number. > > take goldman sachs. their ceo makes a lot of money, but there are a lot of people at goldman sachs who also make a lot of money. so the disparity wouldn't be as great maybe as wal-mart or some retailer where you have a ceo who probably makes a lot, but you have a lot of minimum-wage workers. so that is going to be a big disparity. > also in corpo
if you thought that class warfare was bad during the election and during this tax battle, it could get even worse, because under a 2010 law, dodd-frank, public companies are supposed to disclose the relationship between what their ceo makes - that's already public information - but they are supposed to compare it and give a ratio with what their median employee, kind of the typical employee, makes. so this is something that people can compare from company to company just to see how much more -...
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Jan 22, 2013
01/13
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he stays in california, tax bill is $29 million. so if he moved to florida, he would save $6.25 million. >> the tax bill is 29 million? >> 29 million out of 47. that's not bad. that's pretty good. but he could move to florida and keep half, basically keep half instead of keeping 18 out of 47. >> for a guy who is on the road a lot of the time. >> and then the asteroid thing, i saw what al rockier was able to -- he got a lot of mileage out of that story. >> so are you about to make a confession? >> it's not really true. today i'm feeling fine. coming up, i'm going to start being more open. >> more open? i know everything about you. >> to viewers. >> our viewers know just about everything, too. >> if i feel like i have to burp, i am going to -- >> you are not a closed book. >> could you be more open than al roker about something? >> probably not. >> probably not. so every little thing happens to me. >> oh, boy, viewers, look out. >> anyway, if you've ever been worried about what your boss -- uh-oh, i forgot about him. about what your b
he stays in california, tax bill is $29 million. so if he moved to florida, he would save $6.25 million. >> the tax bill is 29 million? >> 29 million out of 47. that's not bad. that's pretty good. but he could move to florida and keep half, basically keep half instead of keeping 18 out of 47. >> for a guy who is on the road a lot of the time. >> and then the asteroid thing, i saw what al rockier was able to -- he got a lot of mileage out of that story. >> so are...
WHUT (Howard University Television)
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Jan 22, 2013
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WHUT
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and mount a tax on population centers. so when the whole of the northern part of marli early last year to a group of dis pretties and infamous rebels, and well-organized people militarily, and got together to do it, not only is it governored, it's governored by people who want to do harm to some of the western interests. so that's why the french inter -- >> mark, we leave you there. thank you very much. apologies for the slight problem in the sound. but fantastic to have mark there in marli. well, as we heard from aaron, the global unemployment picture is a bleak one with fears of more job cuts and increasing numbers of people are coming to terms with years of livering with austerity. our correspondents have been to germany where thousands of migrant workers have left behind their old lives in a future away from home. >> they flew in from the sunny skies of spain to a cold winter in germany. today, five more nurses. all of them have jobs lined up here. all of them are going to have to learn german fast. >> why have you com
and mount a tax on population centers. so when the whole of the northern part of marli early last year to a group of dis pretties and infamous rebels, and well-organized people militarily, and got together to do it, not only is it governored, it's governored by people who want to do harm to some of the western interests. so that's why the french inter -- >> mark, we leave you there. thank you very much. apologies for the slight problem in the sound. but fantastic to have mark there in...
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Jan 23, 2013
01/13
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KQED
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also tomorrow, the best thing you can do now to save on taxes and boost your retirement security. details in our "money file" segment. the admission by lance armstrong that he took performance enhancing drugs came only after companies like nike, radio shack and others paid him millions of dollars to endorse their products but then dropped him. here's rick horrow with tonight's "beyond the scoreboard." >> reporter: oftentimes, the best athletes also are the best sales people. with so much money available from endorsements, the incentive to lie and cheat is multiplied as their stardom rises. in the last few years, several high-profile athletes have been brought down by scandal: golfer tiger woods with his extramarital affairs; olympic swimmer michael phelps with smoking marijuana; and, of course, lance armstrong with doping. in each case, the damage done to their image had the collateral effect of costing them multi- millions of dollars in endorsement money. in a sense, it's warranted to blame athlete lying and cheating on big paychecks from sponsors. as long as playing contracts an
also tomorrow, the best thing you can do now to save on taxes and boost your retirement security. details in our "money file" segment. the admission by lance armstrong that he took performance enhancing drugs came only after companies like nike, radio shack and others paid him millions of dollars to endorse their products but then dropped him. here's rick horrow with tonight's "beyond the scoreboard." >> reporter: oftentimes, the best athletes also are the best sales...